Court grants order for forfeiture of Emefiele’s $2.4m, Lagos, Delta assets

Nigeria’s Federal High Court sitting in Lagos, on Thursday, ordered the interim forfeiture of $2.04 million and seven properties connected to former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele.

Presiding judge, Justice Akintayo Aluko made the order following an application by the Economic and Financial Crimes Commission (EFCC), which is investigating alleged fraudulent activities linked to Emefiele.

The properties, as listed, include two fully detached duplexes at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; a 1,919.592 sqm undeveloped land on Oyinkan Abayomi Drive (formerly Queens Drive) in Ikoyi; a bungalow at No. 65a Oyinkan Abayomi Drive, Ikoyi; a four-bedroom duplex at 12a Probyn Road, Ikoyi; an industrial complex on 22 plots in Agbor, Delta State; eight apartments on Adekunle Lawal Road, Ikoyi; and a full duplex at 2a Bank Road, Ikoyi.

In addition to the properties, the court also ordered the interim forfeiture of two share certificates of Queensdorf Global Fund Limited Trust, a company allegedly linked to Emefiele.

Justice Aluko stated that the interim forfeiture was necessary to prevent the dissipation of the assets suspected to be proceeds of unlawful activities.

“The properties listed in this application are reasonably suspected to have been acquired through proceeds of unlawful activities,” he said.

EFCC counsel, Rotimi Oyedepo, SAN, who brought the application for the orders in a suit marked FHC/L/MISC/500/24, argued that the assets were obtained through fraudulent activities.

“The money and properties in question are reasonably suspected to be proceeds of unlawful activities. We urge the court to grant this application to prevent any further dissipation of these assets,” Oyedepo said.